Welcome login | signup
Language en es fr
OccupyForum

Forum Post: Goldman Sucks offering a 24% cd....

Posted 3 years ago on Dec. 10, 2011, 1:51 p.m. EST by KVNLGN (154)
This content is user submitted and not an official statement

Just another attempt for them to steal your money before they go belly up. The cd is FDIC insured as it turns out...FDIC no longer means anything as creditors to derivatives now have priority over depositors(2005 bankruptcy reform act)...just so happens that Goldman is leveraged to the gills in derivatives....

http://www.businessweek.com/news/2011-12-09/goldman-said-to-start-offering-fdic-backed-cds-tied-to-equities.html

8 Comments

8 Comments


Read the Rules
[-] 1 points by warbstar (210) 3 years ago

Interesting. This will actually work so long at the fraudsters find an endless stream of money like 401K's, social security, fed, and more to prop up their scheme.

[-] 1 points by demcapitalist (977) 3 years ago

The demand for yield was what fueled the boom in real estate securitization and the bubble / bust in that market , the fed's panicked response QE's fueled the commodity speculation ---------so those 2 markets are tapped out for the moment ---------enter equity derivatives. Gosh aren't equity derivatives what crashed the market in 1929?

[-] 1 points by KVNLGN (154) 3 years ago

they run to a new security or new product before people have time to digest the last fraudulent product...

how do these cd's work ? it has something to do with a zero coupon bond. basically they take your money, gamble with it and maybe at maturity, you will get your principle back.

[-] 1 points by demcapitalist (977) 3 years ago

There's plenty of ways to invest in the stock market these days from ETF's to mutual funds to individual stocks IMO this latest Goldman confection is designed to grab some more cash from the middle class who are looking for a "safe" investment since they lost faith in the equity markets. I fear we won't know how sinister these are until it's to late.

[-] 1 points by warbstar (210) 3 years ago

They are doing it because they know the GSCI is almost maxed out. In other words, they perceive that they are about to run low on new cash. Now, they want a new vehicle to push while another part of the system collapses. It looks like they think they will fail to steal money from the social security system to prop-up their valuations.

Notice that they get profits whether the equities are going up or down. They do not make money when they simply hold their value. This is a major incentive to cause wild swings in valuations.

[-] 1 points by shoozTroll (17632) 3 years ago

It's not like speculators actually want to work for a living.

What else can they do? They have no idea how to work.

All they can do is play with other peoples money.

[-] 1 points by demcapitalist (977) 3 years ago

You know Shooz I really think the banking mess will ultimately be blamed on outsourcing. Wall street has always been capable of wild speculation but at least it used to be based on stock in companies that really did create jobs for Americans. The speculators are not doing any real work or contributing to the creation of any real work.

[Removed]

[-] 0 points by Doc4the99 (591) from Washington, DC 3 years ago

GS already They toppled two governments in a month without eliciting a whisper of dissent. I'd say the tentacles already reach to europe. I think it is bigger than that. they are goal-seeking the united states of europe.

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=385&topic_id=271032&mesg_id=271036

http://en.wikipedia.org/wiki/Henry_Paulson (they all worked for GS)

http://en.wikipedia.org/wiki/Greek_government_debt_crisis

"To keep within the monetary union guidelines, the government of Greece had misreported the country's official economic statistics.[9][10] In the beginning of 2010, it was discovered that Greece had paid Goldman Sachs and other banks hundreds of millions of dollars in fees since 2001 for arranging transactions that hid the actual level of borrowing.[11] The purpose of these deals made by several successive Greek governments was to enable them to continue spending while hiding the actual deficit from the EU.[12]"~

http://en.wikipedia.org/w/index.php?title=Special:Search&search=lloyd+blankstein&redirs=1&ns0=1

http://en.wikipedia.org/wiki/Shadow_banking_system

The shadow banking system is the infrastructure and practices which support financial transactions that occur beyond the reach of existing state sanctioned monitoring and regulation. It includes entities such as hedge funds, money market funds and Structured investment vehicles. Investment banks may conduct much of their business in the shadow banking system (SBS), but they are not SBS institutions themselves. The core activities of investment banks are subject to regulation and monitoring by central banks and other government institutions - but it has been common practice for investment banks to conduct many of their transactions in ways that don't show up on their conventional balance sheet accounting and so are not visible to regulators.

The volume of transactions in the shadow banking system grew dramatically after the year 2000. By late 2007 the size of the SBS in the U.S. exceeded $10,000 billion. By late 2009 the SBS had shrunk to under $6,000bn due to increased regulation, changes in business practice, and pressure from investors who in some cases no longer wanted their funds to be used in the shadow banking system.

http://www.youtube.com/watch?v=i5dBZDSSky0

"Forget the politicians. The politicians are put there to give you the idea that you have freedom of choice . . . you don’t. You have no choice. You have owners. They own you. They own everything. They own all the important land. They own, and control the corporations. They’ve long since bought, and paid for the Senate, the Congress, the state houses, the city halls, they got the judges in their back pockets and they own all the big media companies, so they control just about all of the news and information you get to hear. They got you by the balls. They spend billions of dollars every year lobbying . . . lobbying, to get what they want . . . Well, we know what they want. They want more for themselves and less for everybody else, but I’ll tell you what they don’t want . . . they don’t want a population of citizens capable of critical thinking. They don’t want well informed, well educated people capable of critical thinking. They’re not interested in that . . . that doesn’t help them. That’s against their interests. That’s right. They don’t want people who are smart enough to sit around a kitchen table and think about how badly they’re getting fucked by a system that threw them overboard 30 fuckin' years ago. They don’t want that. You know what they want? They want obedient workers . . . Obedient workers, people who are just smart enough to run the machines and do the paperwork. And just dumb enough to passively accept all these increasingly shittier jobs with the lower pay, the longer hours, the reduced benefits, the end of overtime and vanishing pension that disappears the minute you go to collect it, and now they’re coming for your Social Security money. They want your fuckin' retirement money. They want it back so they can give it to their criminal friends on Wall Street, and you know something? They’ll get it . . . they’ll get it all from you sooner or later cause they own this fuckin' place. It’s a big club and you ain't in it. You and I are not in The big club. By the way, it’s the same big club they use to beat you over the head with all day long when they tell you what to believe. All day long beating you over the head with their media telling you what to believe, what to think and what to buy. The table has tilted folks. The game is rigged and nobody seems to notice. Nobody seems to care. Good honest hard-working people . . . white collar, blue collar it doesn’t matter what color shirt you have on. Good honest hard-working people continue, these are people of modest means . . . continue to elect these rich cocksuckers who don’t give a fuck about you. They don’t give a fuck about you . . . they don’t give a fuck about you. They don’t care about you at all . . . at all . . . at all, and nobody seems to notice. Nobody seems to care. That’s what the owners count on. The fact that Americans will probably remain willfully ignorant of the big red, white and blue dick that’s being jammed up their assholes everyday, because the owners of this country know the truth. It’s called the American Dream cause you have to be asleep to believe it . . .”

[Removed]